Reference no: EM133134825
Unit 31 Statistics for Management - Higher National Diploma in Business Administration
Data Analysis, Data Insight and Presentation
Learning Outcome 1: Evaluate business and economic data/information obtained from published sources.
Learning Outcome 2: Analyse and evaluate raw business data using a number of statistical methods.
Learning Outcome 3: Apply statistical methods in business planning
Learning Outcome 4: Communicate findings using appropriate charts/tables
Task 1: Data Analysis
Scenario
You work as a junior analyst in a large pharmaceutical company and have been asked by the senior data analyst (your line manager) to support with three specific tasks.
Task 1:
In regard to the first task, your organisation has been approached by a health care journal editor and asked if your company can write an article on "The value of data and statistical management". This journal aims at health care professionals as well as the public.
You are tasked with researching and preparing this short piece of article which will be published in the journal and their website.
You are required to cover the following within the article:
1. What is data and why is it important? What is the relationship between data, information and knowledge providing illustrations and examples where appropriate.
2. An evaluation of the raw data published in the Centre for Health Protection regarding sedentary behavior of the people in Hong Kong.
You should evaluate the sedentary behavior of Hong Kong people from this published data sources.
Present your findings in the appropriate format using a range of graphs and charts to communicate data analysis. Comment on the findings.
Also give justification for use of different formats. Critically reflect on different formats and ways of presenting evidence.
3. A critical evaluation of different methods of data analysis including descriptive, exploratory and confirmatory methods.
Task 2: Data Insight
Your second task is to produce an analysis of raw data and communicate findings appropriately. Specifically:
1. Discuss the differences between descriptive and inferential data.
2. Distinguish between and evaluate the different forms of probability distribution including normal, poisson and binomial.
3. Your company wants to study the effect of a concentration skills course for students at the age of 10. Your colleagues tested the concentration scores of students three months before and again three months after the course.
Your researchers want to know if there is any differences in the concentration skills after the course. Use the result below to calculate a range of descriptive and inferential statistics. Apply and justify the use of different methods, e.g. T-Test, ANOVA testing, chi-square testing.
Task 3: Powerpoint Preparation
Scenario
Your final task as Junior Analyst is to present how statistical methods in business planning can be applied, with particular consideration to issues of variability and probability. The intention is this will form the basis of a presentation at the annual staff conference as part of ongoing Continual Professional Development (CPD) activity. This is to be done in the form of powerpoint slides which will:
1. Illustrate the importance of variability and probability in applying and evaluating statistical methods in business planning.
2. Explore the use of statistical process control and appropriate techniques in application to operations, e.g. inventory, flowtime, quality, capacity.
3. Make recommendations and judgments on how statistical process control can improve business performance and business planning.
Attachment:- Statistics for Management.rar